52 Murray Rothbard Quotes for You to Enjoy

Murray Rothbard

American Economist

Born: Mar 2, 1926

Died: Jan 7, 1995

Depression Free Government Man Money Will

Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell

Private philanthropy is the direct expression of the great Christian principle of the brotherhood of man and the Golden Rule. Private philanthropy indeed is the only valid expression of these ethical principles; compulsory charity through 'social legislation' is the exact contrary: it is the evil imposition of force by one group on another. Murray Rothbard

Great Man Charity Evil Group Christian Philanthropy Valid Rule Indeed Exact Brotherhood Direct Only Compulsory Through Force Principle Principles Another Private Imposition Contrary Legislation The Golden Rule Golden Golden Rule Social Ethical Expression

The Keynesian prescription for unemployment rests on the persistence of a 'money illusion' among workers, i.e., on the belief that while, through unions and government, they will keep money wage rates from falling, they will also accept a fall in real wage rates via higher prices. Murray Rothbard

Government Persistence Money Illusion Will Fall Unions Rates Rests Higher Through Prices Also Accept Real Wage Falling Unemployment Via While Workers Belief Keep Among Prescription

The majority is not society, is not everyone. Majority coercion over the minority is still coercion. Murray Rothbard

Minority Society Everyone Over Majority Still Coercion

Lacking the direct test of success or failure, the voter tends to turn, not to those politicians whose measures have the best chance of success, but to those with the ability to 'sell' their propaganda. Without grasping logical chains of deduction, the average voter will never be able to discover the error that the ruler makes. Murray Rothbard

Success Best Failure Logical Will Politicians Ruler Those Ability Able Propaganda Direct Tends Never Voter Without Makes Test Discover Error Sell Lacking Turn Average Deduction Measures Grasping Chains Whose Chance

Tied up with his dismissal of natural law is Hayek's continuous, and all-pervasive, attack on reason. Reason is his bete noire, and time and time again, from numerous and even contradictory standpoints, he opposes it. Murray Rothbard

Time Natural Law Numerous Attack Hayek He Tied Time And Time His Continuous Up Contradictory Again Reason Even

War has generally had grave and fateful consequences for the American monetary and financial system. We have seen that the Revolutionary War occasioned a mass of depreciated fiat paper, worthless Continentals, a huge public debt, and the beginnings of central banking in the Bank of North America. Murray Rothbard

War Financial Seen Consequences Paper System Worthless Financial System Generally Had Mass Huge Debt Beginnings North North America America Revolutionary American Revolutionary War Bank Fiat Banking Central Public Grave Monetary

The expansionary operations of the Second Bank of the United States, coupled with its laxity toward insisting on specie payment by the state banks, impelled a further inflationary expansion of state banks on top of the spectacular enlargement of the central bank. Thus, the number of incorporated state banks rose from 232 in 1816 to 338 in 1818. Murray Rothbard

Rose State Top States Further Insisting Impelled Thus Toward Coupled Operations Expansion Bank Banks Central Central Bank Payment United United States Spectacular Enlargement Second Number Incorporated

While other individuals or institutions obtain their income by production of goods and services and by the peaceful and voluntary sale of these goods and services to others, the State obtains its revenue by the use of compulsion; that is, by the use and the threat of the jailhouse and the bayonet. Murray Rothbard

Other Others State Bayonet Threat Compulsion Voluntary Individuals Goods Institutions Obtain Revenue Sale While Production Use Peaceful Income Services

A robber who justified his theft by saying that he really helped his victims, by his spending giving a boost to retail trade, would find few converts; but when this theory is clothed in Keynesian equations and impressive references to the 'multiplier effect,' it unfortunately carries more conviction. Murray Rothbard

Saying Giving Few Conviction Spending Boost Carries Would Find More Retail He Robber Trade Equations His References Effect Impressive Clothed Unfortunately Victims Justified Theft Converts Really Theory Who Helped

In his second Inaugural Address, on March 5, 1821, Monroe admitted at last to a general depression of prices, but only as a means of explaining the great decline in the federal revenue. Despite this, he asserted that the situation of America presented a 'gratifying spectacle.' Murray Rothbard

Depression Great Situation Monroe Despite Address Admitted General Only Federal Prices He Revenue His America Explaining Decline Means Asserted Gratifying March Spectacle Second Last Presented

Play, as a consumers' good, is subject to the law of marginal utility, as are all goods, and the time spent in play will be balanced against the utility to be derived from other obtainable goods. Murray Rothbard

Time Good Law Will Other Spent Consumers Goods Balanced Subject Against Derived Utility Play Marginal

While the seeming independence of the federal judiciary has played a vital part in making its actions virtual Holy Writ for the bulk of the people, it is also and ever true that the judiciary is part and parcel of the government apparatus and appointed by the executive and legislative branches. Murray Rothbard

Government People Independence Judiciary Virtual Vital Parcel Seeming Federal Writ Part Part And Parcel True Also Executive Making Bulk Branches Legislative While Holy Apparatus Actions Ever Played Appointed

What is so terrible about transaction costs? On what basis are they considered the ultimate evil, so that their minimization must override all other considerations of choice, freedom, and justice? Murray Rothbard

Freedom Justice Evil Other Considerations Considered Must About Costs Terrible Ultimate Override Transaction Choice Basis

By the 1890s, the leading Wall Street bankers were becoming increasingly disgruntled with their own creation, the National Banking System... while the banking system was partially centralized under their leadership, it was not centralized enough. Murray Rothbard

Leadership National Own Creation Enough Increasingly System Leading Becoming Were Wall Wall Street Disgruntled Bankers Banking Banking System While Centralized Street

All government wars are unjust. Murray Rothbard

Government Unjust Wars

The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it. Murray Rothbard

War Thrive Crushed State Unless Course Defeated

Libertarians regard the state as the Supreme, the eternal, the best organized aggressor against the persons and property of the mass of the public. All states everywhere, whether democratic, dictatorial, or monarchical, whether red, white, blue or brown. Murray Rothbard

Subjectivism is not an absolute principle; it is a necessary but not sufficient condition for sound methodology. Murray Rothbard

Absolute Principle Sound Methodology Condition Sufficient Necessary

If taxes and government spending are both slashed, then the salutary result will be to lower the parasitic burden of government taxes and spending upon the productive activities of the private sector. Murray Rothbard

Government Result Burden Will Spending Sector Parasitic Both Private Government Spending Private Sector Salutary Taxes Then Lower Productive Activities

The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business. Murray Rothbard

Business Intervention Market Expansion Bank Cycle Monetary Specifically Credit

Savings and investment are indissolubly linked. It is impossible to encourage one and discourage the other. Murray Rothbard

Impossible Other Savings Investment Discourage Encourage Linked

The majority must be persuaded by ideology that their government is good, wise and, at least, inevitable, and certainly better than other conceivable alternatives. Promoting this ideology among the people is the vital social task of the 'intellectuals.' Murray Rothbard

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